Springville, NY Cost of Living

Springville cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.

Here we can see a simple outline of the cost of living in Springville, NY. As you can see, with the average cost of living in Springville, NY being 85, that puts it 30% lower than the average of New York and 15% lower than our nation's average. This simple outline of the cost of living index was formulated using prices of: goods and services (weighted 33%), housing prices (weighted 30%), groceries (weighted 13%), utilities (weighted 10%), transportation (weighted 9%), and health care (weighted 5%). Thus, goods/services, along with housing influences the majority of the cost of living index. The price of daily goods and services is a valuable and reliable number to be aware of when considering the general price of the city's goods. In the case of Springville, NY, the price of goods and services are 24% lower than the average of New York as well as 15% lower than the nation's average.

Did you know?

The cost of living in Springville is 30% lower than the New York average.

The cost of living in Springville is 15% lower than the national average.

The cost of housing in Springville is 34% lower than the national average.

New York general sales tax is 21% lower than the national average.

New York state income tax is 80% higher than the national average.

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Compare Springville, NY Cost of living To Other Cities

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Cost of living index

Goods & Services index

Groceries index

Health care index

Housing index

Transportation index

Utilities index

Use the salary calculator to compare your current salary in Springville, NY to any other city. The salary calculator will tell you how much you would need to earn in any given city to maintain the same standard of living based on the cost of living in each city. For example, if the cost of living in the city you are looking to relocate to is higher than the cost of living in Springville, NY, then you would need to earn more income in order to maintain the same standard of living. To use the Springville, NY salary calculator, simply enter in the name of the new city, then adjust the slider to your current income. The salary calculator will do the rest and let you know if you need to earn more or less in the new city. You will also see a complete breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income

Per Year

Per Month

Max Budget (28% DTI)

Max Budget (36% DTI)

Owners

$57,130

$4,761

$1,333

$1,714

Renters

$23,429

$1,952

$547

$703

How much of your monthly income goes to housing can tell you whether or not you can afford housing in Springville, NY, as well as what the average cost of living is. Generally, a good rule to follow is that the debt-to-income (DTI) level you want to maintain is 28 percent or less of your income on your rent or mortgage payment and not more than 36 percent of income on all expenses and debts. In Springville, NY homeowners have a median income of $57,130. Using that number, you will come up with a maximum of $1,333 per month that can be spent on the cost of housing. For those who are renting instead of owning, the median income is $23,429, which means there is a maximum of $547 to be spent on the costs of renting a home or apartment.

New York Sales Tax

State

General Sales Tax

With Max Surtax

New York

4%

8.875%

New York Income Tax

State

Income Tax (Low)

Income Tax (High)

New York

4%

8.82%

One thing to keep in mind when considering the cost of living in Springville, NY is the New York sales tax and New York income tax rates. Sales taxes are taxes that are collected on most goods or services sold. Sales taxes can vary by state and can be as high as 7% and as low as 0% as not every state imposes a sales tax. The New York sales tax rate is 4% and the maximum surtax that can be charged is 8.875%. Income tax is the tax imposed on income by both the federal and state government. The income tax rates varies by individual state and will also be higher or lower depending on the applicable tax bracket. The rates of state income tax can vary from 0% to more than 9%. The New York income tax rates range from 4% to 8.82%.

Goods & Services

Item

Springville

National avg.

Difference

Haircut

$14.78

$14.59

1.3%

Beauty Salon

$24.99

$34.68

27.9%

Toothpaste

$1.49

$2.47

39.8%

Shampoo

$0.87

$1.02

14.9%

Movie

$10.62

$9.87

7.6%

Bowling

$2.90

$4.39

34.0%

Groceries

Item

Springville

National avg.

Difference

Ground Beef

$3.74

$4.48

16.5%

Fried Chicken

$1.14

$1.46

22.1%

Milk

$1.82

$2.36

22.8%

Potatoes

$2.19

$3.06

28.5%

Pizza

$8.00

$9.24

13.4%

Beer

$7.73

$8.63

10.5%

Health Care

Item

Springville

National avg.

Difference

Optometrist

$55.25

$99.78

44.6%

Doctor

$80.50

$105.03

23.4%

Dentist

$78.80

$88.70

11.2%

Ibuprofen

$7.98

$9.41

15.2%

Lipitor

$335.79

$298.50

12.5%

Housing

Item

Springville

National avg.

Difference

Home Price

$116,900.00

$175,700.00

33.5%

Avg. Mortgage Payment

$1,155.06

$1,081.03

6.8%

Apartment Rent

$611.00

$920.00

33.6%

Transportation

Item

Springville

National avg.

Difference

Gasoline

$2.74

$2.09

31.2%

Tire Balancing

$35.11

$45.29

22.5%

Utilities

Item

Springville

National avg.

Difference

All Electricity

$177.83

$170.80

4.1%

Phone

$27.50

$28.26

2.7%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.